Most Filipinos have days when they just exclaim, “Hindi ko alam kung san na napunta ang pera ko.” (I don’t know where my money went.) Most of Filipinos are used to saving and budgeting for the big purchases so that they can afford it. Some do not track their budgets and wonder where these “mystery spending” are coming from, as stated by 21% of the survey respondents of “Enhancing Financial Capability and Inclusion in the Philippines - A Demand-side Assessment” by the World Bank in partnership with the Central Bank of the Philippines. They wonder where their money went because of unnecessary expenses which are untracked. Here’s a look at five of those seemingly small expenses that can ruin your budget. Additional Charges Dues to Late Payments Interest rates of credit cards may seem low at 1.99% - 2.99% but if you compute it, here are some computations of amounts of interest: Credit card charges sample computation Interest rates on credit cards Php3,588.00 and Php7,176
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